Todd Watanabe Sells 19,833 Shares of Arcutis Biotherapeutics (NASDAQ:ARQT) Stock

Arcutis Biotherapeutics, Inc. (NASDAQ:ARQT) insider Todd Watanabe sold 19,833 shares of the firm’s stock in a transaction dated Monday, February 2nd. The shares were sold at an average price of $25.50, for a total value of $505,741.50. Following the transaction, the insider owned 721,306 shares of the company’s stock, valued at $18,393,303. This trade represents a 2.68% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website.

Todd Watanabe also recently made the following trade(s):

• On Monday, November 24th, Todd Watanabe sold 48,945 shares of Arcutis Biotherapeutics stock. The stock was sold at an average price of $30.36, for a total transaction of $1,485,970.20.
• On Friday, November 21st, Todd Watanabe sold 1,055 shares of Arcutis Biotherapeutics stock. The stock was sold at an average price of $30.00, for a total transaction of $31,650.00.

Arcutis Biotherapeutics Stock Down 0.4%

Shares of NASDAQ ARQT traded down $0.11 during mid-day trading on Wednesday, hitting $26.08. The company had a trading volume of 2,300,007 shares, compared to its average volume of 1,508,695. The company has a market capitalization of $3.19 billion, a PE ratio of -72.44 and a beta of 1.70. The business’s 50-day simple moving average is $28.32 and its 200 day simple moving average is $22.41. Arcutis Biotherapeutics, Inc. has a 1-year low of $11.13 and a 1-year high of $31.77. The company has a debt-to-equity ratio of 0.68, a current ratio of 3.50 and a quick ratio of 3.28.

Institutional Investors Weigh In On Arcutis Biotherapeutics

Several large investors have recently modified their holdings of ARQT. Independent Advisor Alliance raised its position in Arcutis Biotherapeutics by 25.1% during the 4th quarter. Independent Advisor Alliance now owns 25,303 shares of the company’s stock worth $735,000 after buying an additional 5,069 shares during the last quarter. VIRGINIA RETIREMENT SYSTEMS ET Al purchased a new stake in shares of Arcutis Biotherapeutics in the fourth quarter valued at approximately $414,000. Trek Financial LLC purchased a new stake in shares of Arcutis Biotherapeutics in the fourth quarter valued at approximately $540,000. Ballentine Partners LLC purchased a new position in Arcutis Biotherapeutics in the fourth quarter worth $307,000. Finally, RFG Advisory LLC acquired a new stake in Arcutis Biotherapeutics in the fourth quarter valued at $1,577,000.

Wall Street Analyst Weigh In

A number of brokerages have commented on ARQT. Weiss Ratings reissued a “sell (d-)” rating on shares of Arcutis Biotherapeutics in a research report on Monday, December 29th. HC Wainwright reiterated a “buy” rating and set a $30.00 target price on shares of Arcutis Biotherapeutics in a research note on Wednesday, October 29th. Wall Street Zen cut Arcutis Biotherapeutics from a “strong-buy” rating to a “buy” rating in a research note on Friday, January 23rd. Zacks Research cut Arcutis Biotherapeutics from a “strong-buy” rating to a “hold” rating in a research report on Monday, December 29th. Finally, The Goldman Sachs Group raised their target price on Arcutis Biotherapeutics from $19.00 to $29.00 and gave the stock a “neutral” rating in a research report on Thursday, October 30th. Six equities research analysts have rated the stock with a Buy rating, two have issued a Hold rating and one has given a Sell rating to the company’s stock. Based on data from MarketBeat, Arcutis Biotherapeutics presently has a consensus rating of “Moderate Buy” and an average target price of $29.20.

Arcutis Biotherapeutics Company Profile

Arcutis Biotherapeutics is a clinical-stage biopharmaceutical company focused on developing and commercializing innovative therapies for immuno-inflammatory skin diseases. The company’s research and development efforts center on targeted treatments that address the underlying biology of conditions such as plaque psoriasis, atopic dermatitis, seborrheic dermatitis and vitiligo. Arcutis employs a precision-medicine approach to deliver topical therapies designed to improve efficacy and tolerability compared with existing treatment options.

In August 2022, Arcutis received U.S.